Top 10 MA medical device firms investing in their future – Boston Business Journal
One important way of determining how hard a medical device company is working to come up with the next great product is to look at research and development spending.
Of course, a straight dollar ranking clearly favors the state’s largest firms, with Boston Scientific (NYSE: BSX) and Thermo Fisher (NYSE: TMO) coming out on top. To compensate for the vast differences in sizes of local companies, a better way is to calculate R&D spending as a percentage of revenues (I did this last month with biotech firms).
Looked at that way, there are some surprising names on the list of the top 10 in the state. While some of the Massachusetts’ largest firms, like Boston Scientific and Bruker Corp. (Nasdaq: BRKR), still make the cut, half of the companies on the list generated less than $10 million in revenue last year. (Note: I did not include companies like T2 Biosystems (Nasdaq: TTOO) that didn’t record any product revenue in 2014.)
The attached slideshow contains the top 10 Bay State companies in terms of the highest ratio of R&D spending to revenue. (Note: Some companies use fiscal 2014 data, but those which have filed their first quarter financials use revenue from Q2 2014 through Q1 2015)